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23523213
23523214

517 Washington Ave, Greenville, MS 38701

SN
AL 000117995 - 1
VULCAN GROUP
Listed by VULCAN GROUP
$2,500,000
370 days on market
Updated 101 days ago
Opportunity zone

The Lofts

Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 44,908
Units 32
Cap Rate 14.05%
NOI $351,275
Pro-Forma Cap Rate 12.96%
Pro-Forma NOI $324,047
Year Built 1940
Year Renovated 2017
Buildings 1
Stories 3
Lot Size (SqFt) 43,000

Mixed-Use Luxury Apartments at 13% cap rate in Greenville, MS

Marketing description

The Lofts is a Mixed-Use property located in Greenville, Mississippi. The property consists of 28 luxury apartments situated above 4 retail spaces.

The historic property was once a factory, fully renovated and converted to luxury loft style apartments and restaurant spaces.

Greenville, Mississippi, is undergoing major economic revitalization.

  • $1.2B Entergy Power Station - operational by 2028

  • $45M Federal Courthouse - opening August 2026 - Just two blocks from property!

Investment highlights

OPERATIONAL VALUE ADD PLAY - Lease hotel units as short or long-term furnished rentals to increase NOI approximately $60k.

MARKET STRENGTH - Occupancy and rents likely to trend upward as new federal courthouse just two blocks away opens in August 2026, bringing high salary legal staff and foot traffic to the area.

Listing Contacts

SN
AL 000117995 - 1
VULCAN GROUP
Listed by VULCAN GROUP

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$351,275.00
$29,272.92/mo

Valuation Metrics

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DSCR
14.05%
Cap Rate
14.05%
ROI

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